The unexpectedly dovish tone of the Fed minutes was welcomed by the financial markets. Equities and Treasuries rallied and the dollar came under pressure.
A rude awakening to a new world order is nearer than we think, with Russia finally emerging as a global power, believes Didier Duret, who advises private clients of ABN Amro, the Dutch bank.
04/04/2014 Global Weekly: Good mood in the markets
Recent US data is clearly suggesting that the economy is shaking off the impact of the harsh winter, while the labour market is also getting back on its feet.
28/03/2014 Global Weekly: Economic Springtime
The US economy may experience a catch-up period following its harsh winter, while in Europe the recovery continues its course. Bond markets quieted down, resulting in declining government bond yields. Equity markets recovered on rumours, after last week’s unsettling news had been digested.
21/03/2014 Time for selection
The first quarter of 2014 has been dogged by unexpected challenges, including harsh weather in the US, volatility in emerging markets and, most recently, the annexation of Crimea.